Friends, Family, Favors: Failure

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Leaders dream not of telling others what time it is, but of building clocks that will help men tell time long after they are gone. Some even have the vision, confidence, foresight, and unselfishness of teaching others how to build clocks themselves in order to have a greater impact during — and after — their lifetimes.

Some leaders, however, fall prey to their romantic ideals and hope that those who pick up the baton will be their offspring or siblings, not only to keep the wealth within bloodlines but to create an empire that will help the family long after they are gone. Some may do it for vanity; all do it for wealth, however that wealth is measured.

strangers wanted

With assets come liabilities

"The only wealth in this world is children, more than all the money and power on Earth." Al Pacino's character, Michael Corleone, in The Godfather, Part III .

The above statement is true... sort of. Saddam Hussein could not have instilled as much fear as he did without his sons during his reign of terror, especially during the twilight of his "career."

Similarly, Alexander the Great's empire fell apart upon his death for many reasons, one of which was not having appointed a successor. Such a successor need not have been one of his children, but the fact that his only heirs were an unborn son and an insane half-brother did not help matters. Alexander himself proved to be his father's greatest asset, or source of wealth. Son of King Philip of Macedon, Alexander went on to build so much more than his father, despite Alexander's fear that his father's successes left little room for his own.

But like Saddam's unraveling proved, children may help, but they may also be a great source of liability, a drag or even a burden. As children grow up, parents have reasonable expectations that they will help out in one way or another. Some may strike out on their own and contribute in their own ways; others stay within family circles and help out more directly. Others cut the umbilical cord altogether and wipe the slate clean.

Not all families are alike

Whichever path you or your children shall take depends on a million variables; the key is to remember that different folks need different strokes to paint a canvas that is suitable for them. Some families are close and prosper when they work as one, while others are dysfunctional and can only operate at an arm's (or continent's) length.

Family business is a zero-sum game

Depending on whether you are the father or son, the eldest or youngest child, this article should strike a different chord with you. In the end, the key is simple: mixing business with family, or to a lesser extent, with friends, is largely a zero-sum gain. Although it sounds great in theory, it will inevitably fail in practice, despite some exceptions.

The ongoing debate will question whether a family's value is greater when working under one umbrella or when each family member attacks a different segment of the world's industries.

If you were to add up all the benefits, strengths and opportunities, you would be able to offset these with costs, weaknesses and threats. Doubt this? Read on...